Seven Eight Capital LP Has $6.76 Million Stake in Infosys Limited (NYSE:INFY)

Seven Eight Capital LP raised its position in shares of Infosys Limited (NYSE:INFY) by 308.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 362,968 shares of the technology company’s stock after purchasing an additional 274,160 shares during the quarter. Infosys comprises 0.7% of Seven Eight Capital LP’s portfolio, making the stock its 4th largest holding. Seven Eight Capital LP’s holdings in Infosys were worth $6,758,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. First Trust Advisors LP grew its position in Infosys by 3.6% during the 4th quarter. First Trust Advisors LP now owns 25,209,033 shares of the technology company’s stock worth $463,342,000 after purchasing an additional 884,833 shares in the last quarter. FIL Ltd lifted its stake in Infosys by 5.9% in the 4th quarter. FIL Ltd now owns 18,459,935 shares of the technology company’s stock worth $339,294,000 after acquiring an additional 1,031,371 shares in the last quarter. Sustainable Growth Advisers LP boosted its position in Infosys by 4.4% during the 1st quarter. Sustainable Growth Advisers LP now owns 16,591,434 shares of the technology company’s stock worth $297,484,000 after acquiring an additional 699,641 shares during the period. Franklin Resources Inc. grew its stake in Infosys by 20.7% during the 4th quarter. Franklin Resources Inc. now owns 6,719,669 shares of the technology company’s stock valued at $123,508,000 after acquiring an additional 1,150,885 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Infosys by 10.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,248,026 shares of the technology company’s stock valued at $116,338,000 after purchasing an additional 570,435 shares during the period. Institutional investors own 10.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on INFY shares. StockNews.com upgraded shares of Infosys from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Macquarie raised shares of Infosys from an “underperform” rating to a “neutral” rating in a research note on Friday, July 19th. Finally, Erste Group Bank upgraded Infosys from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.27.

Infosys Price Performance

Infosys stock opened at $22.97 on Wednesday. The company’s fifty day moving average price is $22.06 and its two-hundred day moving average price is $19.34. Infosys Limited has a one year low of $16.04 and a one year high of $23.48. The company has a market capitalization of $95.09 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 3.63 and a beta of 0.99.

Infosys (NYSE:INFY) last issued its quarterly earnings results on Thursday, July 18th. The technology company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. Infosys had a return on equity of 32.01% and a net margin of 17.18%. The company had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same period last year, the business posted $0.17 earnings per share. As a group, sell-side analysts anticipate that Infosys Limited will post 0.75 earnings per share for the current year.

About Infosys

Infosys Limited, together with its subsidiaries, provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. It provides digital marketing and digital workplace, digital commerce, digital experience and interactions, metaverse, data analytics and AI, applied AI, generative AI, sustainability, blockchain, engineering, Internet of Things, enterprise agile DevOps, application modernization, cloud, digital process automation, digital supply chain, Microsoft business application and cloud business, service experience transformation, energy transition, cyber security, and quality engineering solutions; Oracle, SAP, and Saleforce solutions; API economy and microservices; and Topaz, an AI-first set of services, solutions, and platforms using generative AI technologies.